We're already in May, and so suddenly people are wondering: Where are all the muni market disasters we're supposed to be getting this year? Why has it been so quiet. Why haven't munis fallen, like Meredith Whitney said they would?

Fear not: she hasn't given up.

Speaking today at the Milken Conference in LA, she doubled down on her call for hundreds of billions of dollars worth of defaults saying, according to Bloomberg: "This municipal issue, you can criticize me for anything you want, I’m numb to it, because I have more conviction on this than I’ve had on any single thing in my career.”

We say hats off to Meredith Whitney for being numb to criticism, and having the courage of her convictions. There are all kinds of reasons one might change their mind, but people telling you "your stupid" or "you don't get this industry" is not one of them.

All that being said, if you want to see why she is probably wrong, see here.